How Many Times Does Bitcoin Fluctuate in a Day?

Bitcoin, the world’s first cryptocurrency, is known for its extreme volatility. This means that its price can change significantly in a short period of time. But how often does this happen? Let’s dive into the data to find out.

Bitcoin’s Daily Volatility

Bitcoin’s daily volatility is measured by its standard deviation, which is a statistical term that quantifies the amount of variation or dispersion in a set of data points. In the case of Bitcoin, it’s used to measure the daily price fluctuations (Buy Bitcoin Worldwide).

Volatility by Hour and Day

Interestingly, Bitcoin’s volatility also varies by the time of day. According to a study on Take-Profit.org, the most volatile day for Bitcoin is Wednesday, with a daily fluctuation of 5.04%. The least volatile day is Saturday, with a daily fluctuation of just 1.68% (Take-Profit.org).

Percentage Change

To get a sense of the magnitude of these fluctuations, we can look at the percentage change in Bitcoin’s price. According to Statista, Bitcoin’s annualized volatility rate was 81%, while investors could expect on average a 4% change on a daily basis (Statista).

Conclusion

Bitcoin’s daily price fluctuations can be significant, with changes of up to 5% or more on a single day. Moreover, the time of day and the overall market conditions can influence these fluctuations. Always stay informed about the market conditions and consider your trading strategy accordingly.

Keywords: Bitcoin, BTC, daily volatility, price fluctuations, standard deviation, time of day, market conditions, trading strategy.